Turkey Regulator Demands Bank Asya Information Before Sukuks (1)

Bank Asya
Bank Asya


Date posted: April 25, 2014

ISTANBUL

Asya Katilim Bankasi AS (ASYAB), the Turkish lender in partnership talks with Qatar Islamic Bank, must ask the regulator for permission to issue further sukuk under a 1.25 billion-lira ($587 million) debt program.

Turkey’s Capital Markets Board has asked to be informed of future issues, Cengiz Onder, head of investor relations at Bank Asya, said in a phone interview today from Istanbul. An official at the board, asking not to be named under government policy, said it’s seeking further documentation from Bank Asya before sales can resume, without giving further comment.

The lender is a member of the Tuskon business group, representing companies whose executives sympathize with U.S.- based cleric Fethullah Gulen. Prime Minister Recep Tayyip Erdogan says Gulen’s followers are behind corruption allegations from December. Turkish newspaper Sabah reported today that the Capital Markets Board has stopped Bank Asya from issuing sukuk debt, without saying where it got the information.

Bank Asya has sold 550 million liras in sukuk debt in small amounts with short maturities, and the Sabah story was based on false “speculation” that it was being blocked from issuing more, Onder said. The bank’s core focus will be on attracting deposits, he said.

In the six weeks after the corruption allegations became public, Bank Asya fell more than any other company on the benchmark XU100 index. The bank’s share price then climbed the most in 6 years after news of talks with QIB emerged last month.

Source: Bloomberg , April 24, 2014


Related News

Samanyolu high school wins gold medal in TÜBİTAK contest

Samanyolu Science High School students Sadık Said Kasap and Onur Sulak won the gold medal among 24 final contenders whose work was chosen out of 1,156 projects. Kasap and Sulak stated that they had been working on their project for the last eight months and that they had striven to make a contribution to the world of mathematics.

Case of Calgary imam accused of plotting failed coup in Turkey will remain in limbo

Davud Hanci’s court appearance has been delayed. He was expected to appear today before a judge by video conference on allegations he helped orchestrate Turkey’s failed coup attempt last summer.

Understanding Fethullah Gülen (1)

Ekrem Dumanli Some of the most reliable newspapers in the world published important articles about Fethullah Gülen last month. For instance, the International Herald Tribune wrote that Gülen was “an inspiration for Muslims who feel at home in the modern world.” After dwelling on his childhood spent in Erzurum, his youth, his activities following his […]

Police detain another woman shortly after delivery, bringing total to 16

Ayşe Kaya, 30-year-old woman who gave birth to a baby in İstanbul early on Tuesday, was reportedly detained by police with her newborn baby later the same day. Turkish government has systematically been detaining women on coup charges either when they are pregnant or shortly after giving birth. This incident is the second in a week and 16th in the past 9 months.

Gov’t discriminates against Hizmet-affiliated private schools

Some private schools affiliated with the Hizmet movement, a faith-based social movement inspired by Islamic scholar Fethullah Gülen, have been prevented from accessing government incentives. According to an official list published by the Education Ministry on Monday, many high-achieving private schools did not make the cut to be eligible for financial aid from the government.

Ex-President Demirel known for his support of Turkish schools abroad

Turkey’s ninth president, Süleyman Demirel, who died on Wednesday at the age of 90, was known for his open support of the Turkish schools abroad inspired by the views of the Turkish Islamic scholar Fethullah Gülen.

Latest News

Turkish inmate jailed over alleged Gülen links dies of heart attack in prison

Message of Condemnation and Condolences for Mass Shooting at Bondi Beach, Sydney

Media executive Hidayet Karaca marks 11th year in prison over alleged links to Gülen movement

ECtHR faults Turkey for convictions of 2,420 applicants over Gülen links in follow-up to 2023 judgment

New Book Exposes Erdoğan’s “Civil Death Project” Targeting the Hizmet Movement

European Human Rights Treaty Faces Legal And Political Tests

ECtHR rejects Turkey’s appeal, clearing path for retrials in Gülen-linked cases

Erdoğan’s Civil Death Project’ : The ‘politicide’ spanning more than a decade

Fethullah Gülen’s Vision and the Purpose of Hizmet

In Case You Missed It

Turkish Language Olympics – Iraq Qualifications

Rethinking the state-people relationship [in Turkey]

‘Fethullah Gulen is one of the leading Islamic thinkers in the world’

C. African president: Turkish school will have no trouble in my country

Human rights associations up in arms over deputy’s remarks on torture allegations

Math Brings the Gold to Macedonian Turkish College

9 Months imprisonment for hate crimes against Gülen Movement in Germany

Copyright 2026 Hizmet News